BISHKEK, Kyrgyzstan, November 29. The Development Bank of Belarus and the State Development Bank of Kyrgyzstan have signed a framework agreement outlining the general conditions for providing export credits, TurkicWorld reports via the Belarusian bank.
The document was signed during the meetings of the Belarus-Kyrgyz Intergovernmental Commission on Trade and Economic Cooperation in Bishkek, chaired by Belarusian Deputy Prime Minister Anatoly Sivak and Kyrgyz Deputy Chairman of the Cabinet of Ministers Bakyt Torobayev.
The agreement aims to support Belarusian exporters in promoting their interests in the Kyrgyz market.
"The document provides for the creation of a universal financial infrastructure to support domestic exports, under which loan terms for consumers will be more favorable than other credit options for similar purposes," said Roman Brodov, First Deputy Chairman of the Board of the Belarusian Development Bank.
The agreement will establish a mechanism whereby the Development Bank of Belarus will provide financing to the State Development Bank of Kyrgyzstan.
In turn, the Kyrgyz bank, in accordance with local legislation and utilizing its own client network, will offer these preferential resources to businesses interested in purchasing Belarusian goods and services.
After signing a contract, buyers will be able to approach a Kyrgyz financial institution to receive the necessary loan amount from the Belarusian Development Bank.
